Complete financial analysis of ALLETE, Inc. (ALE) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of ALLETE, Inc., a leading company in the Diversified Utilities industry within the Utilities sector.
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ALLETE, Inc. (ALE)
About ALLETE, Inc.
ALLETE, Inc. operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. The company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 145,000 retail customers and 15 non-affiliated municipal customers. It also owns and maintains electric transmission assets in Wisconsin, Michigan, Minnesota, and Illinois. In addition, the company focuses on developing, acquiring, and operating clean and renewable energy projects; and owns and operates approximately 1,000 megawatts of wind energy generation facility. Further, it is involved in the coal mining operations in North Dakota; and real estate investment activities in Florida. The company owns and operates 158 substations with a total capacity of 10,066 megavolt amperes. It serves taconite mining, paper, pulp and secondary wood products, pipeline, and other industries. The company was formerly known as Minnesota Power, Inc. and changed its name to ALLETE, Inc. in May 2001. ALLETE, Inc. was incorporated in 1906 and is headquartered in Duluth, Minnesota.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | 1988 | 1987 | 1986 | 1985 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.88B | 1.57B | 1.42B | 1.17B | 1.24B | 1.50B | 1.42B | 1.34B | 1.49B | 1.14B | 1.02B | 961.20M | 928.20M | 907.00M | 759.10M | 801.00M | 841.70M | 767.10M | 737.40M | 751.40M | 1.62B | 1.51B | 1.53B | 1.33B | 1.13B | 1.04B | 953.60M | 846.90M | 673.00M | 637.80M | 505.50M | 489.40M | 484.10M | 477.50M | 463.90M | 460.50M | 426.10M | 395.50M | 412.90M |
| Cost of Revenue | 1.39B | 1.12B | 965.70M | 744.30M | 805.40M | 1.04B | 955.80M | 876.90M | 1.02B | 812.30M | 747.70M | 705.80M | 306.60M | 325.10M | 279.50M | 305.60M | 347.60M | 281.70M | 273.10M | 287.90M | 252.50M | 239.10M | 233.10M | 229.00M | 200.20M | 205.70M | 194.10M | 190.90M | 177.00M | 157.70M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 489.90M | 446.80M | 453.50M | 424.80M | 435.10M | 462.70M | 463.50M | 462.80M | 468.40M | 324.50M | 270.70M | 255.40M | 621.60M | 581.90M | 479.60M | 495.40M | 494.10M | 485.40M | 464.30M | 463.50M | 1.37B | 1.27B | 1.29B | 1.10B | 931.60M | 834.00M | 759.50M | 656.00M | 496.00M | 480.10M | 505.50M | 489.40M | 484.10M | 477.50M | 463.90M | 460.50M | 426.10M | 395.50M | 412.90M |
| Gross Profit Ratio | 26.06% | 28.45% | 31.95% | 36.34% | 35.07% | 30.88% | 32.66% | 34.55% | 31.51% | 28.55% | 26.58% | 26.57% | 66.97% | 64.16% | 63.18% | 61.85% | 58.70% | 63.28% | 62.96% | 61.68% | 84.40% | 84.13% | 84.74% | 82.81% | 82.31% | 80.22% | 79.65% | 77.46% | 73.70% | 75.27% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 8.90M | 9.80M | 6.10M | 8.60M | 7.70M | 4.60M | 3.90M | 7.40M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 157.90M | 102.90M | 79.90M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Expenses | 300.10M | 312.60M | 302.20M | 273.90M | 255.30M | 7.80M | 2.40M | 3.90M | 4.70M | 135.70M | 9.30M | 6.00M | 471.60M | 446.10M | 373.60M | 373.60M | 360.40M | 344.70M | 419.20M | 363.70M | 1.06B | 1.01B | 1.01B | 842.60M | 705.90M | 635.40M | 579.90M | 354.20M | 286.20M | 270.60M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Expenses | 309.00M | 312.60M | 302.20M | 273.90M | 255.30M | 263.50M | 234.40M | 249.60M | 221.40M | 135.70M | 116.60M | 100.20M | 471.60M | 446.10M | 373.60M | 373.60M | 360.40M | 344.70M | 419.20M | 363.70M | 1.06B | 1.01B | 1.01B | 842.60M | 705.90M | 635.40M | 579.90M | 512.10M | 389.10M | 350.50M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cost & Expenses | 1.70B | 1.44B | 1.27B | 1.02B | 1.06B | 1.30B | 1.19B | 1.13B | 1.24B | 948.00M | 864.30M | 806.00M | 778.20M | 771.20M | 653.10M | 679.20M | 708.00M | 626.40M | 692.30M | 651.60M | 1.32B | 1.25B | 1.25B | 1.07B | 906.10M | 841.10M | 774.00M | 703.00M | 566.10M | 508.20M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Income | 10.30M | 75.20M | 2.30M | 1.60M | 4.40M | 500.00K | 1.00M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 80.80M | 75.20M | 69.10M | 65.60M | 64.90M | 67.90M | 67.80M | 70.30M | 64.90M | 54.80M | 50.30M | 45.50M | 43.60M | 39.20M | 33.80M | 26.30M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 251.80M | 242.20M | 231.70M | 217.80M | 202.00M | 205.60M | 177.50M | 195.80M | 170.00M | 136.40M | 116.60M | 100.20M | 90.40M | 80.50M | 64.70M | 55.50M | 48.50M | 48.70M | 47.80M | 49.70M | 86.70M | 82.10M | 101.60M | 86.70M | 111.40M | 60.20M | 56.00M | 53.30M | 55.40M | 48.80M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | 539.40M | 417.50M | 411.70M | 405.50M | 445.80M | 432.10M | 431.40M | 441.70M | 401.70M | 352.70M | 270.70M | 280.80M | 263.20M | 238.80M | 190.00M | 146.40M | 154.10M | 189.40M | 92.90M | 161.60M | 388.30M | 341.90M | 384.10M | 318.80M | 337.10M | 258.80M | 235.60M | 197.20M | 162.30M | 178.40M | 505.50M | 489.40M | 484.10M | 477.50M | 463.90M | 460.50M | 426.10M | 395.50M | 412.90M |
| EBITDA Ratio | 28.69% | 26.92% | 29.51% | 35.37% | 34.62% | 29.03% | 30.73% | 32.58% | 29.47% | 30.33% | 29.49% | 29.21% | 27.88% | 25.82% | 25.03% | 18.28% | 18.31% | 22.75% | 12.45% | 21.51% | 23.99% | 22.69% | 25.14% | 22.45% | 29.78% | 24.89% | 24.71% | 23.28% | 24.12% | 27.97% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Operating Income | 180.90M | 134.20M | 151.30M | 150.90M | 179.80M | 201.20M | 229.80M | 223.50M | 210.70M | 188.80M | 154.10M | 155.20M | 150.00M | 135.80M | 106.00M | 121.80M | 133.70M | 140.70M | 45.10M | 99.80M | 301.60M | 259.80M | 282.50M | 260.30M | 225.70M | 198.60M | 179.60M | 143.90M | 106.90M | 129.60M | 505.50M | 489.40M | 484.10M | 477.50M | 463.90M | 460.50M | 426.10M | 395.50M | 412.90M |
| Operating Income Ratio | 9.62% | 8.54% | 10.66% | 12.91% | 14.49% | 13.43% | 16.19% | 16.68% | 14.18% | 16.61% | 15.13% | 16.15% | 16.16% | 14.97% | 13.96% | 15.21% | 15.88% | 18.34% | 6.12% | 13.28% | 18.63% | 17.24% | 18.49% | 19.54% | 19.94% | 19.10% | 18.83% | 16.99% | 15.88% | 20.32% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Total Other Income/Expenses | 25.90M | -34.10M | -40.40M | -28.80M | -900.00K | -42.60M | -39.00M | -41.40M | -43.90M | -26.60M | -20.70M | -20.10M | -20.80M | -16.70M | -14.50M | 4.60M | 3.50M | -17.10M | -28.00M | -43.90M | -50.80M | -41.20M | -80.70M | -16.80M | -36.30M | -55.70M | -55.40M | -55.10M | -43.70M | -43.70M | -505.50M | -489.40M | -484.10M | -477.50M | -463.90M | -460.50M | -426.10M | -395.50M | -412.90M |
| Income Before Tax | 206.80M | 100.10M | 110.90M | 122.10M | 178.90M | 158.60M | 186.90M | 175.60M | 166.80M | 162.20M | 133.40M | 135.10M | 129.20M | 119.10M | 91.50M | 125.90M | 135.30M | 123.60M | 17.10M | 55.90M | 235.00M | 191.60M | 201.80M | 233.10M | 125.70M | 142.50M | 124.20M | 88.80M | 63.10M | 82.80M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax Ratio | 11.00% | 6.37% | 7.81% | 10.44% | 14.42% | 10.58% | 13.17% | 13.11% | 11.22% | 14.27% | 13.10% | 14.06% | 13.92% | 13.13% | 12.05% | 15.72% | 16.07% | 16.11% | 2.32% | 7.44% | 14.52% | 12.71% | 13.21% | 17.50% | 11.11% | 13.71% | 13.02% | 10.49% | 9.38% | 12.98% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Income Tax Expense | 27.90M | -31.20M | -26.90M | -39.50M | -6.60M | -15.50M | 14.70M | 19.80M | 25.30M | 36.70M | 28.70M | 38.00M | 35.60M | 44.30M | 30.80M | 43.40M | 47.70M | 46.30M | -500.00K | 16.80M | 91.90M | 72.60M | 73.20M | 84.50M | 57.70M | 54.00M | 46.60M | 19.60M | 1.20M | 21.50M | -62.60M | -73.30M | -75.50M | -74.60M | -88.90M | -72.90M | -70.00M | -82.60M | -69.40M |
| Net Income | 247.10M | 131.30M | 169.20M | 174.20M | 185.60M | 174.10M | 172.20M | 155.30M | 141.10M | 124.80M | 104.70M | 97.10M | 93.80M | 75.30M | 61.00M | 82.50M | 87.60M | 68.30M | 13.30M | 104.40M | 236.40M | 137.20M | 138.70M | 148.60M | 68.00M | 88.50M | 77.60M | 69.20M | 64.80M | 61.30M | 62.60M | 73.30M | 75.50M | 74.60M | 88.90M | 72.90M | 70.00M | 82.60M | 69.40M |
| Net Income Ratio | 13.15% | 8.36% | 11.92% | 14.90% | 14.96% | 11.62% | 12.13% | 11.59% | 9.49% | 10.98% | 10.28% | 10.10% | 10.11% | 8.30% | 8.04% | 10.30% | 10.41% | 8.90% | 1.80% | 13.89% | 14.60% | 9.10% | 9.08% | 11.16% | 6.01% | 8.51% | 8.14% | 8.17% | 9.63% | 9.61% | 12.38% | 14.98% | 15.60% | 15.62% | 19.16% | 15.83% | 16.43% | 20.88% | 16.81% |
| EPS | 4.31 | 2.35 | 3.23 | 3.36 | 3.60 | 3.39 | 3.39 | 3.15 | 2.92 | 2.91 | 2.64 | 2.59 | 2.66 | 2.20 | 1.89 | 2.82 | 3.09 | 2.75 | 0.49 | 3.69 | 8.12 | 5.07 | 5.48 | 6.34 | 2.91 | 4.05 | 3.72 | 3.42 | 3.24 | 3.12 | 3.30 | 3.72 | 3.69 | 3.57 | 4.35 | 3.54 | 3.51 | 4.17 | 3.51 |
| EPS Diluted | 4.30 | 2.34 | 3.22 | 3.36 | 3.59 | 3.38 | 3.38 | 3.14 | 0.73 | 2.90 | 2.63 | 2.58 | 2.65 | 2.19 | 1.89 | 2.82 | 3.08 | 2.74 | 0.48 | 3.67 | 1.05 | 5.04 | 5.44 | 6.32 | 2.91 | 4.05 | 3.72 | 3.42 | 3.24 | 3.12 | 3.30 | 3.72 | 3.69 | 3.57 | 4.35 | 3.54 | 3.51 | 4.17 | 3.51 |
| Weighted Avg Shares Out | 57.30M | 55.90M | 52.40M | 51.90M | 51.60M | 51.30M | 50.80M | 49.30M | 48.30M | 42.90M | 39.70M | 37.60M | 35.30M | 34.20M | 32.20M | 29.20M | 28.30M | 27.80M | 27.30M | 28.30M | 27.53M | 27.06M | 25.30M | 23.30M | 22.80M | 21.33M | 20.32M | 19.53M | 19.01M | 18.65M | 17.97M | 18.68M | 19.30M | 19.61M | 19.36M | 19.18M | 19.94M | 18.23M | 17.89M |
| Weighted Avg Shares Out (Dil) | 57.40M | 56.00M | 52.50M | 51.90M | 51.70M | 51.50M | 51.00M | 49.50M | 48.40M | 43.10M | 39.80M | 37.60M | 35.40M | 34.30M | 32.20M | 29.30M | 28.40M | 27.90M | 27.40M | 28.40M | 27.63M | 27.22M | 25.50M | 23.40M | 22.90M | 21.33M | 20.32M | 19.53M | 19.01M | 18.65M | 17.97M | 18.68M | 19.30M | 19.61M | 19.36M | 19.18M | 19.94M | 18.23M | 17.89M |
Minnesota Power advances EnergyForward with request for proposals for up to 400 megawatts of wind energy
DULUTH, Minn.--(BUSINESS WIRE)--Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has issued a Request for Proposals (RFP) for up to 400 megawatts of wind energy to come online by the end of 2027, an important milestone in advancing...
Unlocking Green Power: Allete Is A Gem In The Utility Sector
ALLETE is a utility company with a strong focus on sustainability and clean energy, making it an attractive investment in the utility sector. The company has shown robust growth in revenues and EPS over the past decade, driven by organic...
Allete: I Continue To Be Bullish On This Quality Business
ALLETE Inc's stock has underperformed the broader market, but it still presents a good long-term investment opportunity. The company is focusing on clean and renewable energy projects, particularly in wind energy generation. ALLETE has identified investment opportunities, such as expanding...
ALLETE to announce 2023 financial results on February 20
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE Inc. (NYSE:ALE) will announce its financial results for 2023 before the stock markets open on Tuesday, February 20, 2024. Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M. Owen, and Senior Vice President and...
New Energy Equity names Jackie Chambers as chief investment officer
ANNAPOLIS, Md. , Feb. 7, 2024 /PRNewswire/ -- New Energy Equity, national developer and financier of community and commercial solar projects, has welcomed Jackie Chambers to its leadership team as chief investment officer.
ALLETE Board of Directors raises quarterly common stock dividend
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) today announced that its Board of Directors has increased the quarterly dividend on the company's common stock to $0.705 per share, a 4.1% percent increase. “This dividend increase reflects the ALLETE Board of Directors' confidence...
New Energy Equity raises $200,000 for Folds of Honor
ANNAPOLIS, Md. , Jan. 16, 2024 /PRNewswire/ -- New Energy Equity LLC, a national developer of community and commercial solar projects, has donated $200,000 to Folds of Honor through its Lift as We Climb Foundation.
5 Low-Leverage Stocks to Buy on Rate Cut Expectations
The crux of safe investment lies in choosing a company that is not burdened with debt. This is because a debt-free stock is almost impossible to find.
ALLETE, Grid United sign development agreements for advancing new HVDC transmission line in North Dakota and Montana
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE and Grid United this week signed development agreements for the North Plains Connector project.
Reasons to Add ALLETE (ALE) to Your Portfolio Right Now
ALLETE Inc.'s (ALE) rising earnings estimates, regular dividend payments and a solid investment plan, makes it a strong choice for investment in the utility space.
Source: https://incomestatements.info
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